Cookies at Which? We use cookies to help improve our sites. If you continue, we'll assume that you're happy to accept our cookies. Find out more about cookies

State pension review needed, says NAPF

Younger people require an incentive to save

People would save more if they knew what they are getting from the state pension

Making the state pension simpler could spur millions of younger people on to save more towards their retirement, according to a new survey from the National Association of Pension Funds (NAPF).

The survey highlighted that half (47%) of those aged between 18 and 34 – more than six million people – would save more for their old age if they knew how much state pension they would get.

Surprisingly, the study found that younger people felt much more strongly than older age groups about a better state pension.

Which? is holding a live pensions Q&A on Friday 1st July, where our experts will be on hand to answer all of your pensions and retirement planning queries. The event is a Which? member exclusive, and you can sign up now for a reminder to take part on the day.

Current pensions system is unclear

Joanne Segars, Chief Executive of the NAPF, underlined that she felt that younger people needed more clarity and information in order to save: ‘They’re keen to take more control of their retirement, but they need a clearer state pension foundation on which they can build their own nest egg.

‘If they could see the state offer might not be enough, they’d be more inclined to get their own savings sorted, partly to avoid working past an increasing retirement age.

‘The current system is a dog’s breakfast and makes it impossible for people to plan their future. Even pensions experts struggle to work out what they’ll get, so what hope does Joe Public have?’

Changes to state pension are essential

Paul Davies, analyst at Which? added: ‘People are currently unclear about how much money they’ll get in retirement via the state pension. The system of pension credits and a second state pension makes it hard to gauge what your final state pension will be.

‘Having a simplified structure with a flat-rate pension guaranteeing an index-linked amount would represent a significant step forward. This will hopefully encourage younger people to consider their future at an earlier stage and therefore build a larger retirement pot.’

If you are uncertain about how to plan for your future, join our pensions Q&A on Friday 1st July.

pound coins

Which? Money – Live pensions Q&A

Are you baffled by state pensions or Sipps? Are you worried about being able save enough for your retirement? Whatever your pension questions, Which? experts will be on hand to answer them during our live Q&A on Friday 1 July. 

Sign up now to take part in this exclusive event for members at, or log on at 12.30pm on the day to get involved.

Back to top